Sen. Elizabeth Warren’s plan to ban private prisons may just be one of her many policy proposals at this point, but it’s having an impact. In response to her announcement, shares of at least two private prison companies fell.
Bloomberg reports that “GEO slid as much as 5.8%, its biggest intraday loss since March, and CoreCivic retreated as much as 6%, the largest intraday decline this year.”
Warren’s plan “to end this private profiteering off of cruelty,” as she described it in a tweet, includes ending federal contracts with private prisons and using federal public safety funding to press state and local governments to do the same.